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All Forum Posts by: Randall Jacobs

Randall Jacobs has started 8 posts and replied 80 times.

Post: Houston we have a problem

Randall JacobsPosted
  • Investor
  • Friendswood, TX
  • Posts 88
  • Votes 51

Are those properties in Houston proper or in the Suburban area? I am not seeing those problems in Brazoria or Galveston counties. 

Randy 

Post: How far is too far away to own rental properties?

Randall JacobsPosted
  • Investor
  • Friendswood, TX
  • Posts 88
  • Votes 51

My limit is 30 minutes drive, but it ought to be 15.

Post: New Houston, Tx Member

Randall JacobsPosted
  • Investor
  • Friendswood, TX
  • Posts 88
  • Votes 51

Hailey, 

Check out RICH Club. Org

Best deal on RE investment education in Houston 

Randy

Professional photos for a rental may be necessary in other markets, but I have been in the Houston market for over 10 years and never used anything more expensive than a cellphone picture. It's more about pricing and location. Get that right and you won't need any pictures at all. ☺

Randy 

Post: What city should I invest in?

Randall JacobsPosted
  • Investor
  • Friendswood, TX
  • Posts 88
  • Votes 51

Yeah, I've owned rental property in California and that will never happen again; even if they gave me the property.  I much prefer the landlord friendly laws of Texas

Post: Newcomer from Houston

Randall JacobsPosted
  • Investor
  • Friendswood, TX
  • Posts 88
  • Votes 51

Hey guys, you are looking for too classy a tenant. People who can pay that kind of rent and aren't Dirt bags can buy in Texas. The sweet spot is under $2k. Ideally 1000 to 1500/month.  The People who make too much to get government assistance but too little to buy a home (the hard working poor). Over 2k you get too many Players and Wantabees and they seldom take care of your houses. Start looking at houses in working class neighborhoods and you will start seeing numbers that work and long time tenants. 

Post: Realtor Rant

Randall JacobsPosted
  • Investor
  • Friendswood, TX
  • Posts 88
  • Votes 51

First thing I will say is that I know that there are good dedicated realtors out there and this is about those who aren't. 

I have numerous SF rental properties in the Houston area.  I frequently am approached by realtors who want to list my rentals.  The results were seldom good. Usually their "screened" candidates couldn't or wouldn't pass a background /credit check. So I now refuse to use them 

I have a property I am getting ready to rent.  I noticed a similar property down the street with a for lease sign in the yard from a nationally known RE company.  I decided to do a little research.  I  called the number.  I immediately got a message saying that she was out of the office and to text her for faster service.  OK so far, so I texted her for number of bedrooms, square feet and monthly rent.  I got an immediate text saying she was in a meeting and she would be back shortly. Four hours later no response, so I texted her again.  Three hours later no response.  I had my wife give her a call.  The realtor answered.  My wife asked her about the property for rent at (address).  The realtor said she had 3 properties for rent.  She didn't know the specifics of any of the properties and that we should go to HAR website  for the specifics.  Now this realtor didn't know that we weren't a prospect.  She didn't even bother offer to show the property.  As of this writing, she has never returned my calls/texts.  I feel sorry for the fool that hired her  and expects to rent his property.  People like this realtor deserve to have their license jerked.

My advice is before hiring a realtor. Do a little research.  Call them on one of their properties and see if that is the person you want to represent you. 

Rant over. 

Randy 

Post: Have you ever have a tenant die?

Randall JacobsPosted
  • Investor
  • Friendswood, TX
  • Posts 88
  • Votes 51

Well we finally got closure on this deal. It really wasn't a major problem.  I filed for eviction for violation of lease (failure to occupy the property). The JP already knew about the situation. She asked a few questions and ruled in our favor.  It took less than 5 minutes. We notified next of kin that they had a week to move the tenant's property or we would exercise the writ of possession.  The fiance, straight out of prison, packed up her stuff. The movers came ;all her stuff is gone.  We are now doing the make ready and our first prospective tenant has scheduled a viewing of the house tomorrow.

Life is good ☺

Randy) 

Post: Looking for a recommended attorney

Randall JacobsPosted
  • Investor
  • Friendswood, TX
  • Posts 88
  • Votes 51

Good luck, I will be monitoring this thread. I have had poor experience with RE attorneys in the area.  Most were front men for other deals. None,  in the end wanted to represent my interests. There is a dirth of RE attorneys and Tax people who are fluent in RE. 

Randy 

Post: New Houston Investor looking for Rental Properties

Randall JacobsPosted
  • Investor
  • Friendswood, TX
  • Posts 88
  • Votes 51

Manville, Pearland Alvin, and Friendswood are fabulous areas.  2 suggestions : 

1 get involved with http://reiahouston.com

2. Go to the  HAR website and do daily searchs for properties under 120k in your preferred areas.  I would suggest 3  or 4 br 2 bath.  They will look nasty, but with some sweat equity you will have rentable properties that willing provide income for a long time.  My personal rule is purchase no property more than a 30 minute drive from my home. 

Good luck 

Randy